Delhi set to join carbon trading business

With global warming causing concerns across the globe, the city government has decided to tap commercial opportunities arising from climate change by joining the carbon trading business.

The city has chalked out an ambitious plan to trade in carbon and is holding a workshop on Monday to identify green projects that can qualify for carbon credits.

Under the Kyoto Protocol, credits are issued to an individual or company taking measures to reduce the emission of greenhouse gases.

These carbon credits can be sold to countries and large companies in the developed world to offset their excessive carbon emissions so that they can meet greenhouse gas reduction norms set under the Kyoto agreement.

"To start with, we have identified at least 11 projects in the city that are entirely based on green policies and can help us earn money through carbon trading," a senior official told PTI.

These "green" projects will be discussed at the workshop, being organised by the environment department with various agencies including MCD and NDMC, where experts will identify whether they can qualify for credits and be registered with the Clean Development Mechanism (CDM).

The new ward block at GTB hospital, the OPD Block of LNJP, a new hospital in Dwarka and Tyagraj Stadium, which is being renovated for the 2010 Commonwealth Games, and three sanitary landfills operated by MCD are in the race for carbon trading.